Legal & General Group Plc grew its position in shares of Consolidated Edison Inc (NYSE:ED - Free Report) by 1.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,399,844 shares of the utilities provider's stock after acquiring an additional 48,314 shares during the quarter. Legal & General Group Plc owned about 1.22% of Consolidated Edison worth $436,993,000 as of its most recent filing with the SEC.
Other institutional investors have also bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Consolidated Edison by 13.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 72,819 shares of the utilities provider's stock worth $7,320,000 after purchasing an additional 8,562 shares during the period. Nuance Investments LLC acquired a new stake in Consolidated Edison in the third quarter worth about $4,017,000. Bryce Point Capital LLC acquired a new stake in Consolidated Edison in the third quarter worth about $556,000. Caprock Group LLC acquired a new stake in Consolidated Edison in the third quarter worth about $2,586,000. Finally, IFP Advisors Inc lifted its holdings in Consolidated Edison by 194.5% in the third quarter. IFP Advisors Inc now owns 15,208 shares of the utilities provider's stock worth $1,559,000 after purchasing an additional 10,044 shares during the period. Institutional investors and hedge funds own 66.29% of the company's stock.
Consolidated Edison Price Performance
Shares of Consolidated Edison stock opened at $108.66 on Tuesday. The company has a current ratio of 1.19, a quick ratio of 1.09 and a debt-to-equity ratio of 1.00. The company's 50-day moving average price is $110.37 and its two-hundred day moving average price is $105.88. Consolidated Edison Inc has a 52 week low of $94.96 and a 52 week high of $116.23. The stock has a market cap of $40.04 billion, a PE ratio of 18.29, a price-to-earnings-growth ratio of 2.76 and a beta of 0.29.
Consolidated Edison (NYSE:ED - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The utilities provider reported $2.18 EPS for the quarter, missing the consensus estimate of $2.28 by ($0.10). Consolidated Edison had a return on equity of 8.33% and a net margin of 12.52%.The business had revenue of $5.10 billion during the quarter, compared to the consensus estimate of $5.22 billion. During the same quarter last year, the firm posted $2.26 earnings per share. Consolidated Edison has set its FY 2026 guidance at 6.000-6.200 EPS. As a group, sell-side analysts anticipate that Consolidated Edison Inc will post 6.09 EPS for the current fiscal year.
Consolidated Edison Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Wednesday, May 13th will be given a $0.8875 dividend. The ex-dividend date is Wednesday, May 13th. This represents a $3.55 annualized dividend and a yield of 3.3%. Consolidated Edison's payout ratio is 59.76%.
Analyst Upgrades and Downgrades
Several equities research analysts recently weighed in on ED shares. Scotiabank upped their price objective on shares of Consolidated Edison from $113.00 to $117.00 and gave the stock a "sector perform" rating in a report on Friday, February 20th. JPMorgan Chase & Co. upped their price objective on shares of Consolidated Edison from $107.00 to $113.00 and gave the stock an "underweight" rating in a report on Thursday, March 12th. Mizuho set a $118.00 price objective on shares of Consolidated Edison in a report on Monday, February 23rd. The Goldman Sachs Group reaffirmed a "sell" rating and issued a $105.00 price objective on shares of Consolidated Edison in a report on Thursday, May 14th. Finally, Evercore set a $116.00 price target on shares of Consolidated Edison in a research report on Monday, May 11th. Three equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and six have assigned a Sell rating to the stock. According to data from MarketBeat, Consolidated Edison presently has a consensus rating of "Reduce" and a consensus price target of $108.71.
View Our Latest Research Report on Consolidated Edison
Insider Buying and Selling
In other Consolidated Edison news, SVP Deneen L. Donnley sold 1,922 shares of the business's stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $113.94, for a total transaction of $218,992.68. Following the sale, the senior vice president owned 32,453 shares in the company, valued at approximately $3,697,694.82. The trade was a 5.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.15% of the company's stock.
About Consolidated Edison
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Free Report)
Consolidated Edison, Inc, commonly known as Con Edison, is an investor-owned energy company that primarily delivers electricity, natural gas and steam to customers in the New York metropolitan area. Its regulated utility operations include the distribution and transmission of electric power, the distribution of natural gas, and the operation of one of the largest district steam systems in the United States, serving commercial, institutional and residential customers in New York City and nearby counties.
The company operates through regulated utility subsidiaries that serve urban and suburban service territories, together with non-utility businesses that develop, own and manage energy infrastructure and clean energy projects.
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